Federal Savings & Loan Insurance v. Molinaro

U.S. Court of Appeals, Ninth Circuit · Decided 1989-11-16

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BOOCHEVER, Circuit Judge: John L. Molinaro (Molinaro) appeals the district court’s grant of summary judgment in favor of the Federal Savings and Loan Insurance Corporation (FSLIC) for $6.4 million plus interest. FSLIC sued Molinaro and others claiming, inter alia, that Moli-naro breached his fiduciary duty as a director of a federally insured savings and loan institution by diverting loan proceeds for his personal b…

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